What is a Good Credit Score? (Complete 2026 Guide)
March 2026 · 8 min read
Quick Answer
A credit score of 670–739 is Good. 740–799 is Very Good. 800+ is Exceptional. Most lenders offer their best rates at 740+. Below 670 is considered fair and below 580 is poor.
Credit Score Ranges Explained
Credit scores in the US use the FICO scale from 300 to 850. Here is what every range means for your financial life.
| Score Range | Rating | Mortgage Rate Impact |
|---|---|---|
| 800–850 | Exceptional | Best available rates |
| 740–799 | Very Good | Better than average rates |
| 670–739 | Good | Near average rates |
| 580–669 | Fair | Higher rates, limited options |
| 300–579 | Poor | Very high rates or declined |
What Makes Up Your Credit Score
FICO scores are calculated from five factors. Understanding each helps you know where to focus improvement efforts.
| Factor | Weight | How to Improve |
|---|---|---|
| Payment History | 35% | Never miss a payment — set up autopay |
| Credit Utilisation | 30% | Keep balances below 30% of limit |
| Length of History | 15% | Keep oldest accounts open |
| Credit Mix | 10% | Have both credit cards and loans |
| New Credit | 10% | Limit hard inquiries to when needed |
5 Fastest Ways to Improve Your Credit Score
These strategies produce the fastest improvements in your credit score. First pay down credit card balances — reducing utilisation from 80% to 30% can add 50-100 points quickly. Second become an authorised user on a family member with good credit score. Third dispute any errors on your credit report — one in five reports has errors. Fourth pay all bills on time going forward — even one missed payment stays on your report for 7 years. Fifth do not close old credit card accounts — length of history matters.
Calculate Your Mortgage Rate by Credit Score
See how your credit score affects your mortgage payment with our free calculator.
Try the Mortgage Calculator →Frequently Asked Questions
What credit score do I need for a mortgage?
Most conventional mortgages require a minimum 620 credit score. FHA loans accept 580 with 3.5% down or 500 with 10% down. The best mortgage rates go to borrowers with 740+ scores.
How long does it take to improve a credit score?
Paying down credit card balances can improve your score within 30 days. Building a strong credit history typically takes 6-12 months. Recovering from serious negative marks like bankruptcy takes 2-7 years.
What hurts your credit score the most?
Payment history is 35% of your score — missing payments causes the most damage. High credit utilisation above 30% is the second biggest factor at 30%. Collections, charge-offs and bankruptcy cause severe long-term damage.
How often does credit score update?
Credit scores typically update monthly when lenders report your account activity to the credit bureaus. After making a big payment or paying off debt your score may update within 30-45 days.
Does checking my credit score lower it?
Checking your own credit score is a soft inquiry and does not affect your score. Only hard inquiries from lenders applying for new credit temporarily lower your score by 2-5 points.